Copyright ghanaguardian
The Ghana National Petroleum Corporation (GNPC) has reaffirmed its commitment to attaining full operatorship as it continues to strengthen its technical capacity, institutional resilience, and financial sustainability. This assurance was given at the Corporation’s Second Annual General Meeting (AGM) held at the Marriott Hotel in Accra under the theme “Consolidating Our March Towards Operatorship.” The event brought together representatives from the Ministry of Finance, the State Interests and Governance Authority (SIGA), members of the GNPC Board, management, and other key stakeholders. Attendees reviewed the 2024 Annual Report, which outlined the Corporation’s operational and financial performance over the past year, highlighting steady oil production, a rise in gas exports, and notable progress on major strategic projects. Delivering the keynote address, the Minister for Energy and Green Transition, John Abdulai Jinapor, commended GNPC for its continued efforts in safeguarding Ghana’s petroleum interests. He urged the Corporation to intensify its capacity-building drive to achieve operatorship. “GNPC serves as the state’s eye in upstream partnerships. The ongoing energy transition makes capacity building even more essential, and the Corporation must continue to develop the expertise to manage petroleum blocks independently and sustainably,” the Minister said. He also noted that government is implementing measures to tackle sector challenges such as declining oil production, limited investment inflows, and infrastructure deficits in the gas value chain. Mr. Jinapor assured that the Ministries of Finance and Energy are working closely to address GNPC’s gas debt exposure and ensure long-term financial stability. GNPC Board Chairman, Prof. Joseph Oteng-Adjei, commended management and staff for their resilience and focus in advancing the Corporation’s operatorship agenda. “Our priority remains to build technical competence, institutional strength, and financial discipline to sustain GNPC’s long-term value,” he stated. Presenting the operational highlights, Acting Chief Executive Officer, Kwame Ntow Amoah, reported a marginal decline of 0.3 percent in oil production but a 10 percent increase in gas exports. He highlighted progress on key projects, including the establishment of the Research and Technology Centre, the commissioning of GNPC’s Energy House (Operational Head Office) in Takoradi, the revitalisation of EXPLORCO, and advancement of the Voltaian Basin Project. “We are building a GNPC that is technically competent, commercially agile, and strategically positioned to secure Ghana’s energy future,” Mr. Amoah stated. The AGM also underscored GNPC’s commitment to environmental sustainability, emphasising its integration of Environmental, Social, and Governance (ESG) principles and alignment with Ghana’s Updated Nationally Determined Contributions (NDCs) under the Paris Agreement. In his closing remarks, Deputy Minister for Energy and Green Transition, Richard Gyan, expressed government’s confidence in GNPC’s leadership and pledged continued ministerial support to ensure the Corporation’s operational and financial success. The meeting concluded with members considering and voting on key resolutions aimed at consolidating GNPC’s progress towards full operatorship and energy sustainability.
